LONDON--(BUSINESS WIRE)--As coronavirus continues to wreak havoc across industries, Quantzig’s sales analytics experts analyze the recent challenges in the pharmaceutical industry and explain why a company should have a strong and effective sales force strategy.
Pharmaceutical companies need a robust sales force effectiveness strategy to generate lost sales in the post-COVID world. Talk to our analytics experts for comprehensive insights.
Globalization has rendered the worldwide pharma industry as highly complex and competitive, that is why it has become imperative for the pharma companies to develop a sales force effectiveness strategy. Pharma companies are increasingly investing in salesforce effectiveness even as digital technology takes a front seat as the most feasible marketing channel. Traditionally, pharmaceutical companies have lived by one rule, “the more, the better” and as a result of this have taken to build an army of field sales representatives. Not only is it a key factor that drives sales but also accounts for the biggest cost chunk in the budget. This makes it essential for pharma companies to devise strategies that drive sales force effectiveness in order to gain a competitive advantage in the market. However, challenges in realigning the size, structure, and sales strategies of their sales force make it necessary for pharma companies to leverage an analytical approach to drive outcomes.
In line with this development and the ongoing crisis, pharmaceutical companies are now pressurized to generate higher profits with lower sales resources. We can help you meet this target by creating strategic relationships with customers to deliver long term profitable sales growth and to achieve short term sales targets. Request a FREE proposal to learn more about our capabilities.
According to Quantzig’s sales analytics experts, “Sales force effectiveness begins by developing an effective sales strategy, structuring the sales force, designing incentive compensation plans, establishing goals, managing sales performance, and building an effective sales force culture.”
What Could Off-Track Your Pharma Sales Force Effectiveness Strategy?
In order to develop a foolproof strategy pharma sales force effectiveness strategy, organizations must keep in mind the following roadblocks that may wreak havoc.
- Customizing communication channels
- Growing regulatory compliance standards
- Ever-changing market landscape
- Gaining access and building trust among physicians
Organizations must overcome these roadblocks in order to drive sales force effectiveness in their organization. When an organization strives to improve its pharma sales force effectiveness, it automatically makes an effort to shift its sales force from being a major cost driver to being a factor that drives sales and growth. The key to successfully conquer these challenges and issues is that the pharma companies must plan their sales force effectively to achieve a higher level of sales force efficiency and effectiveness. Book a FREE solution demo to see what Quantzig can do for you.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal.